Technical Analysis

NASDAQ snaps a five day losing streak

Dow up over 700 points at the session highs

The major US indices close sharply higher on the first day of the new trading month/new trading quarter with the NASDAQ index snapping a five day losing streak. 

Shares of Merck surged 8.6% on the back of a Covid drug that cuts hospitalizations by 50%. Transportation stocks like United airlines, Delta Airlines and Southwest Airlines are also higher on the back of that news. Energy was the best performing sector as oil prices move back to the upside.

  • NASDAQ up for the first time in six sessions
  • Dow S&P, NASDAQ still on track for weekly losses
  • Russell 2000 index up nearly 2%
  • All S&P sectors are higher after yesterday saw the same sectors all lower

The final numbers are showing

  • Dow industrial average rose 483.53 points or 1.43% at 34327.45
  • S&P rose 49.55 points or 1.15% at 4357.09
  • NASDAQ index rose 118.12 points or 0.82% at 14566.70
  • Russell 2000 rose 37.26 points or 1.69% at 2241.63

For the week,, the major indices all closed lower.

  • Dow Jones -3.0%
  • S&P index -3.84%
  • NASDAQ index -3.13%

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